Seminole grants IZON $400000 to produce 3-D televisions in Lake Mary

Posted on 10 Sep 2013 at 10:10AM

Seminole County commissioners on Tuesday gave $400,000 in incentives to a Longwood company that plans to make glasses-free 3-D televisions, a technology that industry experts say is not yet ready for the mass market. The unanimous approval came ...

Seminole County commissioners on Tuesday gave $400,000 in incentives to a Longwood company that plans to make glasses-free 3-D televisions, a technology that industry experts say is not yet ready for the mass market.

The unanimous approval came less than a week after Lake Mary commissioners rejected giving $400,000 to the same company, IZON LLC, saying they were not confident IZON could produce the TVs.

The terms of the incentives package require IZON to hire 400 people to produce the TVs in a Seminole County factory. The jobs would be mostly assembly-line workers paid an average of $37,000 annually, or 95 percent of Seminole's average pay.

County leaders defended the incentives, saying IZON will have to put up a bond and letter of credit to get the money.

If the company fails to provide at least 400 new jobs within a year, or if positions don't exist in two years, the company will have to return the money. County officials could not say what would happen if IZON filed for bankruptcy.

"I have no problem with this type of incentive," Commissioner John Horan said before voting for the incentives package. "It's secured."

IZON founder Joseph DiFrancesco said that although he received only half the incentive money he sought, he'll move ahead. The company plans to lease an old Siemens plant off Rinehart Road in Lake Mary. Production would start within a year, and a 47-inch television would sell for about $2,200.

Industry experts, however, said the technology for glasses-free 3D televisions is not ready for the market yet.

"3-D television without the glasses has been the holy grail for the television industry for the past decade," said James Willcox, senior editor for electronics for Consumer Reports. "I've seen numerous attempts, but no one who has done it successfully."

Tom Giallorenzi, a scientist with the Optical Society in Washington D.C., agreed.

"The TVs generally have some limitations. They can only be viewed at certain angles," he said. "But you can get the [3-D] effect. That's been demonstrated. But the question is whether they are ready for prime time."

Seminole County staff members said IZON met all the qualifications for the incentives package, and that commissioners make the judgment of whether the incentives are an appropriate risk.

DiFrancesco said his company has not manufactured any other electronics but that he and Michael Gibilisco, IZON's chief operating officer, have worked on the 3-D technology for the past six years.

According to IZON's website, DiFrancesco was employed in music publishing and record production in New York City for years.